AQR Capital Management LLC Has $53.82 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• AQR Capital Management LLC has reduced its stake in Seagate Technology Holdings PLC by 5.2%, now owning 640,819 shares valued at approximately $53.8 million.
• Multiple other hedge funds have increased their positions in Seagate, with JPMorgan Chase & Co. boosting its holdings by 12.9%, now owning nearly 18.9 million shares valued at $1.6 billion.
• Seagate Technology's stock recently experienced a quarterly revenue increase of 29.5% year-over-year, posting earnings of $2.59 per share, surpassing estimates.

AQR Capital Management LLC decreased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 640,819 shares of the data storage provider's stock after selling 34,924 shares during the quarter. AQR Capital Management LLC owned about 0.30% of Seagate Technology worth $53,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of STX. Centiva Capital LP purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $566,000. Cetera Investment Advisers raised its position in shares of Seagate Technology by 3.8% in the 4th quarter. Cetera Investment Advisers now owns 55,069 shares of the data storage provider's stock valued at $4,753,000 after purchasing an additional 2,038 shares in the last quarter. Deutsche Bank AG raised its position in shares of Seagate Technology by 53.7% during the 4th quarter. Deutsche Bank AG now owns 1,130,761 shares of the data storage provider's stock valued at $97,596,000 after acquiring an additional 394,908 shares in the last quarter. Ethic Inc. raised its position in shares of Seagate Technology by 7.7% during the 4th quarter. Ethic Inc. now owns 18,592 shares of the data storage provider's stock valued at $1,605,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of Seagate Technology by 81.3% during the 4th quarter. Focus Partners Wealth now owns 14,457 shares of the data storage provider's stock valued at $1,274,000 after acquiring an additional 6,483 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Up 2.2%

NASDAQ STX traded up $4.33 on Thursday, reaching $197.37. The company had a trading volume of 2,375,075 shares, compared to its average volume of 3,854,258. The stock has a market cap of $41.98 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.18 and a beta of 1.53. The stock's 50 day moving average is $157.87 and its 200-day moving average is $120.23. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $199.24.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Seagate Technology's revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.5%. Seagate Technology's dividend payout ratio (DPR) is 42.54%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the transaction, the chief executive officer owned 478,912 shares in the company, valued at $73,632,720. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 5,905 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.00, for a total value of $915,275.00. Following the transaction, the executive vice president owned 6,147 shares in the company, valued at approximately $952,785. This trade represents a 49.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,078 shares of company stock worth $8,561,503 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on STX shares. Susquehanna raised their target price on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research note on Wednesday, July 30th. Bank of America raised their price target on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. UBS Group lifted their price target on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Cantor Fitzgerald raised Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price objective on the stock in a report on Wednesday, July 30th. Finally, Barclays boosted their price target on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.11.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.